Wendy's
WEN • NASDAQ
Wendy's is a restaurants company in the consumer cyclical sector on NASDAQ, led by Ken Cook, with a market cap of $1.6B. As of Q3 2025, 95% of shares are held by 388 institutional investors, with TRIAN FUND MANAGEMENT, L.P. as the largest holder at 15.97%.
Interim Chief Executive OfficerKen Cook
Market Cap$1.6B
Restaurants
Consumer Cyclical
Employees15.3K
Websitewendys.com
Country
United States of America
Overview
Overview of institutional ownership in WEN as of Q3 2025 with a market cap of $1.7B
All Institutions
- Institutions
- 388
- Value Held
- $1.7B
- Shares Held
- 181.7M
- Avg Position
- $4.3M
- Median Position
- $206.8K
Hedge Funds
- Hedge Funds
- 39
- Value Held
- $515.1M
- Shares Held
- 56.3M
- Avg Position
- $13.2M
- Median Position
- $575.9K
Ownership Breakdown
Based on market cap of $1.7B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in WEN as of Q3 2025
| Institution | Position Value |
|---|---|
 TRIAN FUND MANAGEMENT, L.P. Hedge Fund•Activist | $278.8M 6.79% of portfolio |
B BlackRock, Inc. Institution | $220.8M 0.00% of portfolio |
 VANGUARD GROUP INC Institution | $170.3M 0.00% of portfolio |
 HARRIS ASSOCIATES L P Long Only Manager | $97.1M 0.16% of portfolio |
 AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy | $77.2M 0.05% of portfolio |
 SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager | $62.9M 0.01% of portfolio |
 MORGAN STANLEY RIA/Wealth | $56.7M 0.00% of portfolio |
 STATE STREET CORP Institution | $49.0M 0.00% of portfolio |
 ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant | $39.2M 0.02% of portfolio |
 DIMENSIONAL FUND ADVISORS LP Long Only Manager | $39.2M 0.01% of portfolio |
Net Capital Flow
Institutional buying and selling activity for WEN in Q3 2025
- Traded
- −$111.2M
- Buyers
- 207
- Sellers
- 184
- Total Bought
- +$242.8M
- Total Sold
- −$354.0M
- Avg Position
- $3.6M
Biggest Buyers
| Institution | Net Bought |
|---|---|
B BlackRock, Inc. Institution | +$39.7M +4.3M shares |
 Marshall Wace LLP Institution | +$36.9M +4.0M shares |
MORGAN STANLEY RIA/Wealth | +$17.3M +1.9M shares |
 FMR LLC Institution | +$13.6M +1.5M shares |
 WELLS FARGO & COMPANY/MN Institution | +$10.7M +1.2M shares |
 Quantinno Capital Management LP Hedge Fund•Market Neutral | +$10.2M +1.1M shares |
 Quinn Opportunity Partners LLC Hedge Fund•Event Driven | +$8.8M +964.8K shares |
S Squarepoint Ops LLC Hedge Fund•Quant | +$8.8M +959.0K shares |
J JANE STREET GROUP, LLC Institution | +$6.3M +689.3K shares |
P PUBLIC SECTOR PENSION INVESTMENT BOARD Institution | +$5.7M +617.0K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy | −$48.9M −5.4M shares |
 Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy | −$43.6M −4.8M shares |
VANGUARD GROUP INC Institution | −$24.4M −2.7M shares |
 UBS Group AG Institution | −$19.4M −2.1M shares |
 MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | −$17.7M −1.9M shares |
 JPMORGAN CHASE & CO Institution | −$16.7M −1.8M shares |
 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager | −$11.8M −1.0M shares |
R Retirement Systems of Alabama Institution | −$10.9M −955.0K shares |
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution | −$10.7M −932.7K shares |
 Gradient Investments LLC RIA/Wealth | −$9.6M −836.6K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited WEN in Q3 2025
- New Positions
- 28
- New Value
- $9.4M
- Exited Positions
- 67
- Exited Value
- $107.7M
New Positions
| Institution | Position Value |
|---|---|
P PUBLIC SECTOR PENSION INVESTMENT BOARD Institution | $5.7M 617.0K shares |
 Legacy Capital Group California, Inc. RIA/Wealth | $631.0K 68.9K shares |
 AI Financial Services LLC RIA/Wealth | $545.0K 57.6K shares |
 Aaron Wealth Advisors LLC RIA/Wealth | $356.7K 38.9K shares |
 Sheets Smith Investment Management RIA/Wealth | $308.9K 33.7K shares |
 Requisite Capital Management, LLC RIA/Wealth | $271.0K 29.6K shares |
 Catalytic Wealth RIA, LLC RIA/Wealth | $257.0K 28.1K shares |
C CLS Investments, LLC Institution | $201.8K 22.0K shares |
 Summit Financial, LLC RIA/Wealth | $191.0K 20.8K shares |
T TCG Advisory Services, LLC RIA/Wealth | $190.8K 20.8K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager | $11.8M 1.0M shares |
R Retirement Systems of Alabama Institution | $10.9M 955.0K shares |
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution | $10.7M 932.7K shares |
Gradient Investments LLC RIA/Wealth | $9.6M 836.6K shares |
 JCP Investment Management, LLC Hedge Fund•Event Driven | $8.6M 756.9K shares |
 Allspring Global Investments Holdings, LLC Long Only Manager | $7.5M 631.5K shares |
C | $6.9M 602.9K shares |
 Trexquant Investment LP Hedge Fund•Quant | $6.1M 532.4K shares |
H HRT FINANCIAL LLC Institution | $4.5M 391.5K shares |
T TEXAS PERMANENT SCHOOL FUND Institution | $4.4M 387.1K shares |
Options Activity
Institutions with the largest Call and Put options positions in WEN as of Q3 2025
- Call Positions
- 13
- Call Value
- $18.6M
- Put Positions
- 22
- Put Value
- $78.5M
Call Positions
| Institution | Position Value |
|---|---|
 CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro | $6.6M 7.2K contracts |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $5.2M 5.7K contracts |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $1.9M 2.0K contracts |
S Squarepoint Ops LLC Hedge Fund•Quant | $1.3M 1.4K contracts |
 Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy | $1.0M 1.1K contracts |
 BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $916.0K 1.0K contracts |
W WOLVERINE TRADING, LLC Institution | $628.1K 688.0 contracts |
 TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy | $295.0K 322.0 contracts |
J JANE STREET GROUP, LLC Institution | $223.5K 244.0 contracts |
P PEAK6 LLC Institution | $184.1K 201.0 contracts |
Put Positions
| Institution | Position Value |
|---|---|
J JANE STREET GROUP, LLC Institution | $20.0M 21.8K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $11.3M 12.3K contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $8.9M 9.7K contracts |
 BARCLAYS PLC Institution | $8.6M 9.3K contracts |
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro | $5.7M 6.3K contracts |
S Squarepoint Ops LLC Hedge Fund•Quant | $5.1M 5.5K contracts |
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage | $4.6M 5.0K contracts |
 CITIGROUP INC Institution | $4.6M 5.0K contracts |
D D. E. Shaw & Co., Inc. Institution | $2.7M 3.0K contracts |
 Crawford Fund Management, LLC Hedge Fund•Long/Short | $2.2M 2.4K contracts |
Most Committed Institutions
Institutions with WEN as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
TRIAN FUND MANAGEMENT, L.P. Hedge Fund•Activist | 6.79% $278.8M |
Quinn Opportunity Partners LLC Hedge Fund•Event Driven | 0.82% $11.1M |
 Sound Income Strategies, LLC RIA/Wealth | 0.38% $7.0M |
AI Financial Services LLC RIA/Wealth | 0.35% $545.0K |
O Oak Thistle LLC Institution | 0.25% $1.6M |
Sheets Smith Investment Management RIA/Wealth | 0.20% $308.9K |
B BOYAR ASSET MANAGEMENT INC Hedge Fund•Value | 0.16% $255.4K |
Legacy Capital Group California, Inc. RIA/Wealth | 0.16% $631.0K |
 Spurstone Advisory Services, LLC RIA/Wealth | 0.16% $11.0K |
HARRIS ASSOCIATES L P Long Only Manager | 0.16% $97.1M |
Hedge Fund Spotlight
Discover hedge funds investing in WEN
Quest Partners LLC
Hedge Fund • Quant Macro
Portfolio ManagerNigol (Nmn) Koulajian
- Portfolio Value
- $1.5B
- Positions
- 2,240
- Last Reported
- Q3 2025
Sector Allocation
Position in Wendy's
- Market Value
- $471.7K
- Shares Held
- 51.5K
- Portfolio Weight
- 0.03%
- Owned Since
- 2023-Q4
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
ETF ETF | $39.0M | 2.54% | |
ETF ETF | $6.5M | 0.42% | |
ETF ETF | $6.5M | 0.42% |
